OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in BXP, Inc. $BXP

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of BXP, Inc. (NYSE:BXP) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 33,941 shares of the real estate investment trust’s stock, valued at approximately $2,290,000.

A number of other institutional investors have also modified their holdings of BXP. Nuveen LLC purchased a new position in BXP in the first quarter valued at $14,737,000. Tredje AP fonden increased its position in BXP by 801.4% in the 1st quarter. Tredje AP fonden now owns 107,921 shares of the real estate investment trust’s stock valued at $7,251,000 after acquiring an additional 95,948 shares during the period. Envestnet Asset Management Inc. increased its position in BXP by 9.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 471,763 shares of the real estate investment trust’s stock worth $31,830,000 after purchasing an additional 41,284 shares during the period. Pacific Heights Asset Management LLC boosted its stake in shares of BXP by 66.7% during the 1st quarter. Pacific Heights Asset Management LLC now owns 100,000 shares of the real estate investment trust’s stock worth $6,719,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of BXP by 632.6% during the 1st quarter. Jones Financial Companies Lllp now owns 22,615 shares of the real estate investment trust’s stock worth $1,520,000 after acquiring an additional 19,528 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BXP shares. Piper Sandler upped their target price on BXP from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. raised BXP from a “neutral” rating to an “overweight” rating and set a $83.00 target price on the stock in a research report on Friday, October 17th. New Street Research set a $85.00 price objective on BXP in a research note on Monday, October 13th. Jefferies Financial Group lifted their price target on shares of BXP from $79.00 to $84.00 and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Morgan Stanley upped their target price on shares of BXP from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BXP presently has a consensus rating of “Hold” and a consensus target price of $79.26.

BXP Stock Up 0.4%

BXP stock opened at $74.51 on Tuesday. The firm has a market cap of $11.80 billion, a PE ratio of 2,484.53, a P/E/G ratio of 7.76 and a beta of 1.22. The firm’s 50 day moving average price is $73.33 and its two-hundred day moving average price is $69.49. The company has a debt-to-equity ratio of 2.06, a quick ratio of 3.76 and a current ratio of 3.76. BXP, Inc. has a twelve month low of $54.22 and a twelve month high of $88.72.

BXP (NYSE:BXP) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm had revenue of $868.46 million for the quarter, compared to the consensus estimate of $845.09 million. BXP had a net margin of 0.11% and a return on equity of 3.89%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, research analysts predict that BXP, Inc. will post 6.91 EPS for the current fiscal year.

BXP Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. BXP’s payout ratio is 9,333.33%.

BXP Company Profile

Boston Properties, Inc (NYSE: BXP) (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets – Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.